Barclays Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price target lowered by Barclays from $24.00 to $22.00 in a research report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Truist Financial initiated coverage on RXO in a report on Thursday, March 13th. They issued a “buy” rating and a $24.00 price target for the company. Jefferies Financial Group decreased their target price on shares of RXO from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company cut their price target on shares of RXO from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Susquehanna decreased their price objective on shares of RXO from $18.00 to $13.00 and set a “negative” rating on the stock in a report on Wednesday, March 26th. Finally, Morgan Stanley lowered their target price on shares of RXO from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, RXO currently has a consensus rating of “Hold” and a consensus target price of $24.80.

RXO Price Performance

RXO stock opened at $19.54 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.33. The business has a 50 day simple moving average of $20.93 and a 200-day simple moving average of $25.05. RXO has a 12 month low of $17.50 and a 12 month high of $32.82. The stock has a market capitalization of $3.19 billion, a PE ratio of -9.22, a price-to-earnings-growth ratio of 4.55 and a beta of 1.67.

RXO (NYSE:RXO) last released its earnings results on Wednesday, February 5th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. RXO had a negative net margin of 6.26% and a positive return on equity of 1.53%. Equities analysts predict that RXO will post 0.31 earnings per share for the current year.

Institutional Trading of RXO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of RXO by 79.7% during the 4th quarter. Blue Trust Inc. now owns 1,150 shares of the company’s stock worth $27,000 after purchasing an additional 510 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of RXO during the third quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its position in RXO by 228.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,248 shares of the company’s stock worth $30,000 after acquiring an additional 868 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in RXO by 68.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,400 shares of the company’s stock worth $39,000 after acquiring an additional 570 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in RXO by 407.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,800 shares of the company’s stock valued at $43,000 after acquiring an additional 1,445 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

About RXO

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.